New Britain Herald Newspaper, August 14, 1915, Page 11

Y HERALD, SATURDAY, AUGUST 14, 1915, PAEIFIB NAESALLS |G FIVE Bt STEAMERS Unable to Gompete Against Jap anese Line Ships New York, Aug. 14.—The Pacific Mail Steamship company, in pursuance of its plan ‘announced-some time ago &f disposing of its fleet and other prop- @rty, has sold five of its steamers to the Atlantic Transport company of West Virginia. The steamers so dis- pesed of are the Manchuria, Mon- golia, Korea, Siberia and China. No terms were mentioned In the an- nouncement yesterday. < The last sailing from San Francisco by any of these vessels to Oriental | ports under the Pacific Mail flag will _Jie on August 25 by the Mongolian. s Due to Action of Congress. Some months ago the Pacitic Mail Steamship company indicated that it would withdraw its steamers from the trans-Pacific service and probably di bese of them because of the new sea- men's law, passed by the last session of congress, the terms of which, it is claimed, made it impossiple for the ®acific Mail to compete with the Japanese lines. Many of the members Jf the crews, chiefly in the fire rooms, consist of cheap coolie labor, and under the new law the Pacific Mail would have to replace them with men speaking the same language as the officers of the ship. This, it was said, was one of the most onerous clauses of the new law, but there were others \ghich contributed to the decision of’ the steamship company to:dispose of its property. The vessels sold are virtually the largest and best in the Pacific Mail sérvice, The Mongolia and the Man- churia are twin vessels of 27,000 tons each; the Korea and the Siberfa each have a tonnage of 18,000 tons and the Ghina is of 10,200 tons burden. All jese wessels are now in commission the Pacific service. Price Kept Secret. Philip A. S. Franklin, receiver of the International ‘Mercantile Marine ce¢mpany, of which thie Atlantic Trans- port company of West Virginia is a wbsldlary‘ Geclined to give the price yeid for the vessels, Mr,, Franklin ~ said the steamers would be transferred to his company as soon as possible to be used in the regular trade of the Atiantic Trans- port company, which operated between Nw York, Philadelphia, Baltimore and Furopean ports and = between New York and San Francisco. Rcgistry Still Undecided. As to ‘whether the steamers would ain under the American flag, Mr. Franklin said this would be deter- yiined by insurance and other matters, He added, however, that the registry would not be chnnged at oncee, if at ally In returning to the control of the lrternatlonal Mercantile Marine com- idny, “tte: Moftgotia me back to their builgers; These- vessels were sold to the Pacific” Mail Line before they were ready for ser- vice. All the steamers will be brought ta New York by way of the Panama Cgnal. /Mr. Franklin said the Atlantié Transport company bought the steam- to help out its regular fleet, which- is| unable; to -carry -all the freight cffered. He sald the company had chartered several steamers; but' -de- cided to buy the Pacific Mail ships out- 1ight. i Personal E ‘William Farr left today for tic City where"he will spend"’ his% tion. Mr. and Mrs. H, C. Blakeslee of Walnut street will leave today for an extended trip through the west, stop- ping at Chicago. “'The Misses Anna and Emma Holm- quist, Gertrude Nelson, Mable Jackson, | Fannie Eckman and Grace Rainy are epending their vacation at Asbury Park, N. J. Walter S. Sanderson or the local post office force will spena the week- nd at West Haven, stopping at * the Lloyd cottage. " 4 Miss *Margaret Naughton of High street is leaving today for a two weeks’ visit to Springfield, Mass. Miss Helen G. Smith of 44 Camp street, is "visiting with friends in New "Milford. Mr. and Mrs. Mark T. Lake and spn of North Glen street have re- tirned from Hunter, N. Y., where they spent the past two weeks. Harry Brown of West Main strect will spend next week at Myrtle Beach. Charles E. Swain left today Hgncock, N. H. for M. D. Saxe will spend the week- end in New York. ‘Miss Luck A. Pickup of Lincoin street left today for Block Island for a two, weeks' vacation. # H. C. Blakeslee has gone to Can- %on, ‘Ohio, for a visit with friends. E. Hopkins left today for Bethle- hem, N. H. Superintendent H. S, Walther of the Stanley Rule & Level company has gone to Bast Stroudsburg, Penn., for a short stay. @ Mrs. A. B. Murphy will spend the week-end in Boston, Mass. er reported heretofore. are the English battleshibs Venerabls, Ajax, Centurion, Osman, King George V and Superb, and battle and <Menchtivia | has issued a July Class | Battleships Audacious "Bulwark .. Formidable Venerable Ajax Centurion Osman . Irresistible Ocean .. Thunderer Agamemnan Goliath Triumph Majestic . King George V ... Superb Battle Cruisers ‘Warrior Monmouth Good Hope Cressy Hogue Aboukir Australia Queen Mary Tiger Invincible Protected. Cruisers Amphion 6 Pathfinder Hermes Pegasus . Hawke Venus .... Encounter Undaunted Fearless Glasgow Gloucester Auxiliary Cruisers and Dryad . . Niger Hussar Fishguard Oceanic Vicknor Larentina Olan Macnought Bayano . . Lusitania -, Mauretania Princess Irene Surrey, Batt.leshlps J Andrei Sinop Panteleimon e Battle Cruisers Pallada Small cruisers Schemtschung Donez . Kubanez . Battlchlmys Bouvet Gaulois Courbet Battle Cl'mscrs Leon Gambetta Montcalmn Battle Cruisers Amalfi .. Guiseppe (;nrrflwaldl oo Battle Cruisers Asama Tattleships Battle Cruisers Scharnhorst Gneisenau Bluecher . Protected cr 1:I~1(~rs Magdeburg Mainz Coln Adriadne Hela Emden Nurnberg Leipzig Dresden Konigsberg Small (/rlxlscl'v Kormoran . Luchs Tiger Jaguar Iitis .. Auxilia; Cruisers Kap Trafalgar Kaiser Wilh'm d. Gr. Navarra Konigin Louise . Kanoneb, M‘nvnl(‘ge!‘ Protected Cru Zenta Kaiserin Elis Battleships Messudije TCTAL LO OF Battleships The German Information statement of what claims to be the known losses ‘of the warring fleets up to statement is interesting as it lists as lost a number of Allied warships nev- l Heretofore. Service ltl 26. The \ Among these cruisers Warrior and Queen Mary and a num- ber of lesser craft which’ will be iden- tffied below as nc dates are’ given of the disasters. The list’ is headed by the Audacious which, ‘it is claimed, was mined off Ireland. The German Information Service claims the statement is from a semi- afficial German source and is con- sidered accurate. ~The statement follows: . ENGLAND. Tonnage Speed 22 1 1 1 ....,000 13,750 9,950 14,300 12,200 12,200 12,200 19,500 30,000 30,000 20,300 3,400 3,500 4,900 4,900 wwomsooomon Small 1,800 820 1,080 17,300 2,000 2,000 2,000 3,204 31,600 32,000 6,000 . 5,980 Launched Mined, Ireland, Oct. 27, 1914 Torpedoed, Nov. 2, 1914 U-24, Sheerness, Jan. 1, 1915 Lloyds . U-13, Humber U-13, Humber U-31, Channel Dardanelles, Dardanelles, Lloyd’s, Dardanelles, Dardanelles, Dardanelles, Dardanelles, Mined Norway,. 1912 1902 1902 1902 1912 1911 1914 1898 1898 1911 1906 1898 1903 1895 1911 1907 Mar. 18, 1915 Mar. 18, 1915 June 9, 1915 May 7, 1915 May, 26, 1915 May, 27, 1915 Nov. 1, 1914 Nov. 1, 1914 Sept. 22, 1914 Sept. 22, 1914 Sept. 23, 1914 Jan. 24, 1915 1905 1901 1901 1892 1892 1892 1911 1912 1914 1907 Norway Coronel, Coronel U-9 U-9, U-9, Helgoland, U-18 or mined, Helgoland, Falkland Isl'ds, 24, Dec. 7, 1914 1911 1904 1898 1894 1891 1895 1902 1912 1912 1909 1909 Aug. 7, 1914 Sept. 5, 1914 Oct. 31, 1914 Sept. 19, 1914 Oct. 15, 1914 Mined, U-21, U-27, Konigsberg, U-9; Official, Lloyd’s Mined, Mined, Coronel, U-Austria, Nov, 1, 1914 1893 1892 1894 L Dover Aug. 30, 1914 Nov. 11, 1914 Sept. 18, 1914 Sept. 18, 1914 Minéd, & Ireland, mined 1899 Mined, U-27, Stranded, .... Sherness, 1899 . 1898 1906 1906 RUSSIA, 17,700 18. 11,400 12,800 8,000 3,180 1,250 1 19 18 1900 Black Black Black Sea ea 1906 East sea . 12,1914 . 29, 1914 .- 30, 1914 30, 1914 1903 1887 1887 Penang, Odessa, Black Sea FRANCE. 1896 1896 1901 Mar. Mar. Ap. 18, 1915 18, 1915 1915 Dardanelles, Dardanelles, Street Otronto, 27, 1901 19 0!) L. 23.6 19.0 1908 1898 Adriatic sea, Adriatic” sea, JAPAN. 10,000 21.3 1898 GERMANY. 9,500 11,600 11,600 15,800 o100 - 4,550 Hoabokhmomiem ooso00 18,000 15,640 3,640 948 2,400 ooo> AUST 20.0 19.0 TUR 2 0 3,250 9,250 17.0 BATTLESHIPS, BATTLE AUXILIARY Battle Cruisers ’mned Shelled, Shelled, Shelled, Nov Dec. Dec. Jan. 7, 24, 1915 Aug. Aug. Aug. Aug. Sept. 27, 1914 30, 1914 30, 1914 30, 1914 13, 1914 Nov. 9, 1914 Deec. 7, 1914 Dec. 7, 1914 Stranded, Shelled, Shelled, Shelled, Torpedoed, Shelled, “Shelled Shelled, Shelled, Shelled, Sunk, Shelled, Shelled, Shelled, Shelled, Tsingtau Nov. 7,°1914 Nov. 7, 1914 Nov. 1914 Nov. 1914 1, Shelled, Shelled, .... Shellea, .... Shelled, Shelled, Sept. = Aug. 1914 1914 RIA. 1897 1890 KEY. 1874-03 1915 AND Odessa, PROTECTED, CRUISERS. April 3, SMALL Auxiliary and Cruisers Cruisers Protected Total 16—315,450 — 41,900 3— 46,800 England .. Russia France Ttaly Japan . 10, 1— 174,400 8,000 2— 17,800 1— 10,000 11—53,560 11 Germany .. Austria Turkey . George L. Damon is in Wilmington, 53,560 10—34,360 —— 5,600 4— 48,500 12—40,960 10— 45,158 | nearly “of all kinds. | being considerably | tion of people s saving money, RMAN ACCOUNT OF NAVAL |BUSINESS SHIES Statement Lists As Lost a Number of Allied Warships Which Have Never Beea Reported As Sunk Prospect of Bumper Harvest and Boom in Steel Industry Cause “(special to the Herald.) York, Aug. 14.—The coming fall season promises to be a satisfac- tory one for the United States, which is benefitting by its own good fortunes, plus the misfortunes of others. The strongest and most pleasing basis of confidence is the enormous harvest which we are on the threshhold of garnering. The latest Government report indicates a crop of wheat of 966,000,000 bushels, or 76,000,000 bushels more than last year’s record crop. Corn promises a crop of 2,918, 000,000 bushels, or 207,000,000 bushels less than the record crop of 1912. But this difference may be materially re- duced by favorable weather. Oats promise 1,402,000,000 bushels or about 17,000,000 bushels below the bumper crop of 1912. For hay, the outlook is 75,000,000 tons, or two and a half million tons greater than the record vield of 1812. Nearly all our crops will be larger than last year, the im- portant exception being cotton. For our grain crops profitable prices are assured because of tne certainty of large domestic and foreign demand. Prices may not rule as high as last year when the war seriously inter- fered with supplies; and the fall of Constantinople, when it happens, will have to be taken into consideration because Russian supplies, which have been accumulating in the Black sea, will be suddenly released. The only important drawback in the crop sit- uation is cotton, the yield of which will be considerably reduced by the smaller acreage and lessened use of fertilizers. The South is apparently somewhat disturbed over derange- ment caused by the war, yet less so than newspaper accounts suggest. The possibility of Great Britain de- claring cotton -contraband, naturally confuses the situation and the problem of financing this year’s crop, which is complicated by the large carry over from last season, demands an early solution. Fortunately, hte crop was raised at low cost and the South is profiting by a steady diver- sification of industry. Boom in Steel. The next source of satisfaction in business circles is the steady widening of acitvity in the great steel industry. ‘While much of this is due to war con- tracts, many of which promise to be exceedingly profitable, the 'latter do not now from so large a share of the total orders sometimes supposed. There has been o steady and improv- ing home demuand at rising prices for all descriptions of fabricated steel, especially constructive puir- poses, and the railroads have begun to place orders with their cus- tomary freedom. When they do this, as in all probability tney soon must, the steel industry will become even more active and the [flood tide of prosperity in this great industry will be at its heighth. Should the war come to an unexpectedly early termin- ation, munition contracts will, of course, be stopped, but the devasted regions of KEurope will need large quantities of steel for reconsruction This demand will be urgent and cannot be immediately satisfied by either Gremany, France or Great Britain. Inevitably the United States will get a large share of these foreign orders, at least for some months after the war, and this, to- gether with improvement at home, in- sures a period of prosperity for the steel trade for a long period ahead. Gold Flowing Westward. Attention to the foreign exchange situation was again drawn by the rather spectacular importation of gold arfd securities ‘from London, brought on for relief at this point. Exchange promises to be a problem of first im- portance for several months to come, unless the British government es- tablishes large credits on this side, which so far as known has not as yet been done, or succeeds in sending larger amounts of securities or mer- chandise in settlement. Very soon the outward movemenz of grain and war munitions will begin upon a much more active scale, and unless imports increase or something else is done to relieve the situation, a fresh crisis in the foreign exchange mar- ket may shortly develop. Indications point to a further importation of gold, some estimates being as high as $75,- 000,000, also a renewed selling .of American stocks unless some expedi- ent is adopted to tide over the crisis. Confidence Increasing. General business shows some provement. Western merchants are exceedingly hopeful as usual at this because of tne crops; while merchants have been al- most equally encouraged by that fact, coupled wita the growing activity in the steel industry. The pur- chasing abilitics of the American far- mer and American steel workers are enhanced, .a fact New 15 for not yet im- season Eastern inevitably activities of the country Credit is sound, loanable an important sec- and confidence everywhere is. growing slowly but surely. Railroad managers were disappointed at the small rate concessions granted by the Interstaie Comerce Commission, a body which seems slow.to appreciate either tho legtimate needs or the ghahge in pub- lic temper which no longer desires other than favorable and just treat- ment of the railroads. Current rail- which must consumptive as a whole. funds are plentiful, stimulate the | “114-56 Asvion S1, HARTFORD Skirts —AIll our Wash Skirts which sold from $1.25 to $2.25 (large sizes included) on sale for a few days, for only 95¢ Band sizes 23 to 34. We are still offering you at MEMBERS NEW YORK Represemul by E. W. Eddy. New Britain Nat. RICHTER & CO. STOCK FX @) Bank American Hardware New Britain Machine Stanley YWorks Colt’s Arms North & Judd Nilcs-Beme New Departu New Departure Bristol Brass Eagle Lock MEMBERS NEW YO RK tain the best markets on all listed service will be not only satisfactory Telephone 1012, BOODY McLELLAN & Of STOCK EXCHANGE. 111 Broadway, New York. Istablished 1879. The facilities of our office are at your disposal to buy, sell issues and we feel confid but superior to any other. DIRECT FRIVATE WIRE TO NEW YOREK NEW BRITAIN OFFICE, 309- B 310 NAT'L BANK FINANCIAL NEWS WAR SPECIALTIES SHOW RECESSIONS American Woolen Shares Advance 63c any of our White Waists re- maining which were 95¢ to $3.45. road returns are disappointing, largely because they reflect the unusually light grain movement and the shrink- age during the month. Very soon the new crops and the activity in steel will show themselves in traffic returns and better earnings. It is altogether likely that earnings for August, Septembor, October, if not November also, will show encouraging gains over last year. For the time being at least, our rela- tions with Germany are less tense and there is good reason to hope that se- rious friction will be avoided. The Mexican difficulties have broken out afresh and are still a matter of much Two Points New York, Aug. 14.—Substantial recessions in war specialties features today’s two hour session. Most of these issues opened with gains of a point of more, but declined abruptly when Crucible Steel began to fall al- most perpendicularly nine points. Allis-Chalmers lost 5 and Willys- Overland 15. Others group receded one to three, with heaviness in U. S. Steel and some of the standard railways, particularly Reading. Later most of these losses were retrived in part under the lead of Reading, which rebounded from fits early low, carrying other shares of the same class to higher levels. The closing was firm. An advance of 3% points in Mercantile Marine 4%s was the feature of the bond market. Wall St.,, 10:30 a. m.—War speclal- ties, chiefly those of minor grades, dominated today’'s market, to the complete neglect of representative jssues. Pressed Steel Car, American Car, Sloss Sheffield Steel and Bethle- public concern. The country, how- cver, has become somewhat accus- tomed to the troubles and takes alarm much sily. During the past week neither of these At prob- lems have disturbed the stock market which has cither discounted all known possibilities or else has become har- dened to such factors. Stock Buying Active, Activity on the stock exchange con- tinues on a liberal scale. Speculation in the war group has been toned down somewhat and more or less disposition has been shown to either take profils or avoid extra hazardous ventures in this division of the market. Opera- tions are on a broader and more gen- eral scale, the disposition being to di- vert speculation to the railroads and some of the well established indu:- trials. The outlook for railroad in- vestments is certainly improving. As just said, traffic prospects are bright- ening. Public hostility to the railroads is disappearing, and the latter have a better outlook for securing fair treat- ment from the government than hasz has been the case for several years. Liquidation has been severe and :x- tensive in this portion of the invest- ment field. Weak spots have been pretty thoroughly eliminated. Divi- dend reductions have about reachcd the end, and altogether the better class of railroads have a higher stand- ing as investments than has been the case for many years past. The mo:t important uncertainty to bhe faced s the possibility of liberal foreign seiling in case of any material advance on this side. If Europe should decide to realize more extensively upon its Am- erican investments, it will give to American purchasers an opportunity to take back their own stocks under conditions more favorable than usuai- ly occur. The general market hu< had a vigorous rise during the few weeks and many stocks in war which offer exceedingly tempting profits. More or less realizing is, therefore, to be anticipated, whenever untavorable news develops. The sit- uation favors continued activity on the market, with occasional recessions but the general trend in the direction of higher prices, particularly whiie inflationary conditions continue as pronounced as they now are. A declinc at this time would improve the tech- nical situation and bring in a new :ot of buyers. The action of the Interstate Com- merce Commission in ordering a r» duction in freight rates on anthracite amounting to about ten per cent., was a distinct shock to the market and has resulted in heavy selling of the Coalers. In addition to this, the con- tinued demoralization in foreign ex- change, sterling bills now seliing -t the lowest point in 40 years, is hav- ing an adverse effect on the so-called international stocks, as it is feared that further foreign liquidation will en- sue. As against this {4 continued heavy buying of war stocks on ru- mors that additional large orders have been placed with them for mu- nitions nd other supplies. Under the circumstances it is not surprising that sentiment for the moment s lo: the past | group are now selling at figures | hem Steel rose one to four points and | Motor stocks were again prominent, | with a new high record for Stude- | baker. Pacific Mail's response to the | sale of its ships, presumably on profit- able terms, was an advance of three points. A reminder of the recent an- thracite decision was seen in Delaware and Hudson's decline of 4 1-4 Ameri- can Woolen common and preferred ad- vanced two points on the proposed re- chartering of the company. New York Stock Exchange quota- tions furnished by Richnter & Co., members of the New York Stock Ex- change. Reopresented by E. W. Eddy, August 14, 1915 High Low Close Am Beet Sugar ... 59% 58% 59% Am Car & Fuon Co 71% 69% 70% Am Can 58 59 % Am Locomotive b4%5 41 Tenn Copper .. in the same | Southern Pacific Southern Railway Studebaker .. 89% ¢ 16 99 % 43% Union Pacific 131% 131 Utah Copper U 8 Rubber Co . U 8 Steel U 8 Steel pfd 1129 ul. Va Car Chemh‘nl . 836% Westinghouse Western Union Wyllis Overland ...190 COTTON REPO ‘Washington, Aug. 14. sumption in the United the cotton year of 1915, July 31, amounted to ning bales of lint and 40 linters, the censsus bureau aj today. In 1914 the consum 5,626,078 bales of lint and' bales of linters. WEEKLY BANK STA! New York, Aug. 14— condition of celaring house b trust companies for the that htey hold $187,232,8 . excess of legal requirem: an increase of $21,174,620 week. HELD FOR HIGHER O | Thompsonville, Aug,’ Robert Howe, Fred Ondway mond Grinnell who em this community early in i stealing an automobile helol Normand R. Allen, a H | chant, and fleeing to @ &‘ jpmml.ed to be a tar and episode, and who were cal day at Ossipee, N. H., and back, pleaded guilty in # court today when charged ing the automobile. Mr. the machine at $1,100. No wag offered and the trio Wi mitted to Hartford jail in $500 bonds each to await higher court. MOULTON HARBOR New Haven, Aug. '14. found in the harbor late identified today as that of Moulton of Brockton, M drowned off Steeplechase Bridgeport harbor a week was about 25 years old. [l man had gone out in a ¢ American Smelt .. 8% 80 Anaconda ..-... 66 66 % ATS Fe Ry Co . 102% 1021 Baldwin Locomo 80% Bi&0 BRI Beth Stecl Butte & Superior . Canadian Pacific Central Leather Chesa & Ohio .... 46 Chino Copper 44% Chi Mil & St Paull 83 ColF&I. 1% Del & Hudson ...142% Distillers Sec 289 28 3% L1721 118% 1% 82 83% 85 285 y ] 643 153 42% 1531 427% 46 1“4 82 401 142 281 Erie 1st pfd . General Electric Great Nor pfd Gt Nor Ore Cetfs Lehigh Valley Maxwell Mtrs em . Mex Petroleum . National Lead N Y C & Hudson | Nev Cons |N Y Ont & West . Northern Pacific Norfolk & West Pac Mail 8§ 8 Co Penn R R .. Pressed Steel (’n Ray Cons Reading Rep I & S com 107 107% 34% 108 9 63 1% 22 147% 43% . 22% 148% 441 decidedly mixed, and many astute market operators are therefore ev ning up their trades pending a clear- er outlook. HENRY CLEWS, ~—————— Connecticut Trust an Executor or Administrator. CAPITAL $750,000. Connecticut Trust an M. H. WHAPLES, Pres't, swim, and Jater the ovel was seen floating near the COLT CO. PAYS Hartford, Aug. 14.—The twelve and a half per © pay roll of the Colt Patent pnny was pald to the men and fluctuated from $10 to $45 a man. This paymi the pay roll for May, June and went to all employes been continuously employed between May 1 and August i are 1,100 employes at the JOHN W. HARPER D Biddeford, Me., Aug. 14. Harper, of New York, last | the Harper Brother, m lishers, died today at Biddef r He was eighty-four yeprs of, Before retir- ing, use with warm water and insure a restful night. It Refreshes (Al Drugetete.) Contains 309 Pure _ Pure Sulph HIll’'s Hair & Whisk .‘. Biack or | d Safe Deposit A STRONG, RELIABLE CORPORAT ION' i organized and qualified through years Ql trustworthy service, to act as Co: 1servam‘ Gu SURPLUS 87fl.m d Safe Deposit Co. HARTFORD, CON